Trump Confirms Bitcoin Reserve Plans–$15T Price Boom Predicted

https://www.forbes.com/sites/digital-assets/2024/12/14/trump-confirms-bitcoin-reserve-plans-15-trillion-price-boom-predicted/

by latchkey • 2 years ago

10 32 2 years ago

forbes.com

withinboredom• 2 years ago

I predict it won't actually happen and shortly before it is announced that it won't, I suspect many people will be quite rich.

latchkey7• 2 years ago

Whether it happens or not, the cat is out of the bag.

Other countries will dive in. El Salvador is a great example of this. https://nayibtracker.com/

Don't forget, $MSTR is buying up all the supply they can get their hands on. https://saylortracker.com/

peutetre4• 2 years ago

El Salvador has been mismanaged for centuries. The only good example it provides is what not to do.

figassis• 2 years ago

I would understand creating a reserve in a stable asset. Maybe the goal here is to stabilize bitcoin by attaching it to the US economy, in which case it skyrockets and billionaires can now exit, leaving all taxpayers as bag holders without any of the potential upside of holding actual btc.

But, if all of a sudden the US govt holds BTC, then it becomes cash equivalent, and all banks will start letting people cash out and bitcoin will then fully enter the economy as a first class citizen. Banks will put a ledger in front of their btc deposits and give you BTC credit/debit cards that run on Visa/Mastercard's network and let you pay for stuff without actually moving anything on the blockchain.

latchkey7• 2 years ago

As far as I understand it, the goal is to frontrun other counties from doing the same exact thing.

talldayo• 2 years ago

A 15 trillion dollar boom prediction is the sort of thing that should end with an "or I'll castrate myself on live television" sort of collateral. Guess they all took notes from McAfee.

Finnucane• 2 years ago

So, it seems like the plan is to let crypt-bros cash out their holdings at the expense of the US Treasury, then when the fed support ends, the price will crash, leaving the Fed holding worthless assets.

EA-3167• 2 years ago

We were the bag holders all along, who knew?

latchkey7• 2 years ago

Isn't the US Treasury is already doing a good enough job of sending $USD to zero?

https://fred.stlouisfed.org/series/M2SL

cm2187• 2 years ago

And given recent announements I suspect this is David Sacks idea. Sacks has been consistently equating any perceived conflict of interest with evidence of corruption. In this case he wants US citizens to pay taxes to push up the price of his crypto holdings? How is it not total corruption? How is that going to benefit the average american?

bediger40003• 2 years ago

Is there any serious justification for this?

I can see the need for a strategic reserve of oil, or food, or heck, tantalum. But we use those things, and we can foresee circumstances where they might be useful. Someone educate me.

npoc7• 2 years ago

It's the perfect store of value. Even gold's above ground supply doubles every 3 or 4 decades.

It's optimised for storing large amounts of value for long periods of time. Nothing else has the fundamentals that come close.

As more and more people/countries realise this, the demand and therefore value will continue to increase. The earlier adopters will have a large advantage over the late adopters.

It's the perfect savings technology for people/companies/nations.

Just as TCP is the digital protocol for the internet, bitcoin is the digital protocol for money. It's quite something.

https://x.com/SimplyBitcoinTV/status/1868035093178056803

bediger40003• 2 years ago

But we already can stockpile the single universal store of value, dollars. Dollars, unlike Bitcoin, is completely under USA control.

AnimalMuppet• 2 years ago

Even gold's above ground supply doubles every 3 or 4 decades.

Citation needed. In particular, Wikipedia says 201,296 tons exist above ground as of 2020. It also says the annual production is 1,480 tons. So, no, the gold above ground absolutely does not double every 3 or 4 decades.

More: Look at the price of gold and the price of bitcoin. Which has been the more stable store of value?

switch0073• 2 years ago

Talking up bitcoin before Christmas? It's quite predictable at this point

Trying to get people to put their end of year bonus into BTC?

npoc7• 2 years ago

Why wouldn't you?

Before we had physical hard money (gold) Then we had paper tokens (dollar/euro/yen etc) Now we have digital hard money.

Bitcoin is the digital hard money protocol. It's the ultimate savings tool. Mankind has never seen a liquid asset with fixed (and pre-defined) issuance, independent of demand before. The issuance ultimately becomes 0. Even gold's above ground supply doubles every 3 to 4 decades.

Everything is tending and will continue to tend to zero against bitcoin.

switch0073• 2 years ago

Yeah thanks for a copy/paste of your previous numerous, unrelenting pushing of bitcoin on this site. I'd already seen your comment history lol

Trump Confirms Bitcoin Reserve Plans–$15T Price Boom Predicted

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